The US SEC has approved the conversion of Grayscale’s Digital Large Cap Fund into an ETF holding numerous crypto assets. According to a recent filing from the regulator, Grayscale’s newest crypto ETF will hold Bitcoin, Ethereum, XRP, Solana SOL, and Cardano ADA.

The approval is another landmark decision for crypto implementation on an institutional level. Following the approval of banking institutions being able to offer crypto products like spot Bitcoin ETFs, Grayscale now holds an ETF that possesses numerous top coins. Furthermore, the SEC may not be done, and could consider permitting crypto ETFs to launch without requiring a 19b-4 filing, according to a Fox insider.

Indeed, a crypto ETF that meets certain pre-established criteria could skip the traditional 19b-4 rule-change filing process, according to the Fox Business report on the SEC’s potential decision. Instead, issuers would be able to file a standard S-1 registration statement, wait the requisite 75-day review period, and launch the fund directly on the exchange, assuming the token meets the new listing standard. As a result, several more crypto ETFs could arrive in the coming months if such a notion is approved.

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The Grayscale crypto ETF decision by the SEC comes as each of the five cryptocurrencies within it are trading in the red. BTC is down 1% in the last 24 hours, while ETH is down 2.2%, XRP is down 0.55%, SOL has fallen 5.7%, and ADA is down 4.4%.